Takaful Malaysia

Summary

Takaful Malaysia is the first takaful operator in Malaysia; it is the holding company for family takaful, owns all of the general takaful company, and has two subsidiaries in Indonesia. ¹

Founding

It was established on 29 November 1984, after the government set up a task force on an Islamic insurance company, in the year of the Takaful Act. ¹ It became a public company on 19 October 1995, was listed on Bursa Malaysia on 30 July 1996, and split its composite licence into two entities on 1 June 2018 under the Islamic Financial Services Act 2013. ¹

Ownership

At 31 March 2023 its substantial shareholders were Lembaga Tabung Haji (28.20%), the Employees Provident Fund (12.73%) and Kumpulan Wang Persaraan (6.88%). ¹

References

Wikipedia, "Takaful Malaysia", revision 1359724315. ¹

Islamic banks and conventional banks — the difference, the doubts and the performance

The two 'Al-Wasatiyya' episodes on Islamic banks. In the first, 56% of the studio audience said they could not define riba, 79% that they knew nothing of the murabaha, mudaraba, tawarruq and salam contracts, and they split into thirds on whether Islamic banks are free of doubt; in the second, 65% chose to buy by murabaha from an Islamic bank, 57% thought abolishing riba impossible while the world economy runs on interest, and 49% judged Islamic banks' social role weaker. The guests agreed that conventional bank interest is riba and differed over the existing Islamic banks.

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Islamic banks and conventional banks — the difference, the doubts and the performance